Integrated Wealth Concepts LLC Sells 595 Shares of Alcoa Co. (NYSE:AA)

Integrated Wealth Concepts LLC decreased its stake in Alcoa Co. (NYSE:AA) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,310 shares of the industrial products company’s stock after selling 595 shares during the period. Integrated Wealth Concepts LLC’s holdings in Alcoa were worth $629,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. ING Groep NV bought a new position in shares of Alcoa during the 3rd quarter valued at $10,201,000. Douglas Lane & Associates LLC grew its holdings in shares of Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after purchasing an additional 27,217 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alcoa by 6.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock valued at $24,233,000 after purchasing an additional 36,869 shares during the last quarter. Aigen Investment Management LP grew its holdings in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after purchasing an additional 15,546 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Alcoa by 43.4% during the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock valued at $11,361,000 after purchasing an additional 82,073 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. BMO Capital Markets raised their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.73.

Alcoa Trading Down 2.1 %

Shares of NYSE AA opened at $41.10 on Wednesday. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $47.77. The stock has a market cap of $10.62 billion, a P/E ratio of -23.35, a price-to-earnings-growth ratio of 0.85 and a beta of 2.44. The firm has a 50-day moving average of $42.61 and a 200 day moving average of $38.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the company posted ($1.14) EPS. Alcoa’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts expect that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Alcoa’s dividend payout ratio (DPR) is currently -22.73%.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.